You are here: Home » Markets » Cryptocurrency » Bitcoins
Business Standard

Evergrande impact: Bitcoin slides to $45,000 as traders pare back on risk

Bitcoin dropped 5.4% to $45,025 as of 9:49 a.m. in London, reaching the lowest level in a week

Topics
Bitcoin | cryptocurrency

Lynn Thomasson | Bloomberg 

Bitcoin

prices slumped as a broad selloff sparked by worries about contagion from China Evergrande Group swept through global markets.

dropped 5.4% to $45,025 as of 9:49 a.m. in London, reaching the lowest level in a week. Other digital assets also retreated, with Cash and Ether all declining.

Stock markets globally sank on Monday as investors weighed the risk of a spillover from Evergrande’s debt woes and this week’s Federal Reserve meeting. prices had been trending higher recently, with prices hitting a four-month high earlier this month.

chart

Dear Reader,


Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

First Published: Mon, September 20 2021. 15:38 IST
RECOMMENDED FOR YOU
.